Analyst Consensus ?
ConsensusBuy12 ratings
Bullish1191.7%
Neutral18.3%
Bearish00.0%
KE Holdings Inc. · BEKE · FY2025 Q2 · Calendar Q3 2025
KE Holdings shifts toward efficiency as housing-market risks persist
The supplied analysis offers partial support for a constructive longer-term view: diversification, AI-enabled productivity, and shareholder returns are positives, but softer housing demand, margin pressure, and reliance on policy support leave the case mixed.
Reported Before market openNYSEReal Estate
$18.23B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.22
Consensus $0.22
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$3.63B
Consensus $3.65B
Revenue surprise
-0.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.3%
Event window
SPY move
+0.4%
Same window
Abnormal move
-1.7%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+3.4%
Up to 20 sessions
BEKESPY benchmark
Ask FN2 about BEKE FY2025 Q2
Transcript, numbers and history already loaded
Why did BEKE fall 1.3% after beating EPS estimates in FY2025 Q2?What changed in BEKE's guidance and outlook in FY2025 Q2?Give me the bull and bear case for BEKE after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The emphasis shifted from rapid scale toward efficiency, AI deployment, and diversified non-housing services. Current analysis highlights modest revenue and GTV growth alongside lower GAAP net income, while management continues to pursue an asset-light model and share buybacks.
Guidance delta
Current guidance sentiment is not provided. The prior quarter’s guidance sentiment was maintained, but the supplied analysis does not establish a new guidance change.
Key takeaways
- Revenue and GTV grew modestly, while GAAP net income fell more than 30% year over year amid higher labor costs and margin compression.
- Home rental and renovation provided diversification, with rental revenue up 78% year over year and non-housing services representing 41% of revenue.
- Management is emphasizing AI, scientific management, and community-centric premium stores rather than rapid scale; policy support remains important to demand.
Management priorities
- Scale AI applications across agents, brokers, and consumer-facing tools
- Improve productivity through efficiency-focused scientific management and community-centric renovation stores
- Maintain an asset-light Beihaojia model while continuing share buybacks
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$16.79Current
$19Low
$23.42Average
$30High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | May 21, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 12, 2025 |
| UBS | Buy | Neutral | Upgrade | May 16, 2025 |
| Citigroup | Buy | Buy | Maintain | May 16, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 19, 2025 |
| B of A Securities | Buy | Neutral | Upgrade | Oct 30, 2024 |
| HSBC | Buy | Buy | Maintain | Mar 15, 2024 |
| New Street Research | Buy | Buy | Maintain | May 9, 2023 |
| Goldman Sachs | Buy | Neutral | Upgrade | Feb 18, 2022 |
| 86 Research | Hold | Sell | Upgrade | May 20, 2021 |
| China Renaissance | Buy | Hold | Upgrade | Apr 23, 2021 |
| Jefferies | Buy | Buy | Maintain | Jan 5, 2021 |
Named analyst price targets
Upside is calculated against the persisted current price $16.78. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| CLSA | Analyst unavailable | $23.8 | $16.87 | +41.8% | Aug 19, 2026 |
| UBS | John Lam | $23 | $18.52 | +37.0% | May 12, 2026 |
| Goldman Sachs | Timothy Zhao | $21 | $17.06 | +25.1% | May 4, 2026 |
| Griffin | Griffin Chan | $24.4 | $15.63 | +45.4% | Apr 8, 2026 |
| Barclays | Analyst unavailable | $23 | $17.22 | +37.0% | Feb 19, 2026 |
| Goldman Sachs | Analyst unavailable | $19 | $18.4 | +13.2% | Feb 2, 2026 |
| UBS | Analyst unavailable | $19 | $17.2 | +13.2% | Oct 31, 2025 |
| Jefferies | Thomas Chong | $22 | $18.58 | +31.1% | Aug 26, 2025 |
| UBS | John Lam | $24.5 | $21.55 | +46.0% | Mar 20, 2025 |
| Bank of America Securities | Miranda Zhuang | $28 | $22.16 | +66.8% | Oct 29, 2024 |
| Griffin | Griffin Chan | $23.8 | $14.24 | +41.8% | Sep 10, 2024 |
| Barclays | Jiong Shao | $30 | $16.97 | +78.7% | May 28, 2024 |
| Jefferies | Thomas Chong | $19.8 | $16.99 | +18.0% | May 23, 2024 |
| HSBC | Albert Tam | $21.8 | $14.03 | +29.9% | Mar 15, 2024 |
| Barclays | Jiong Shao Shao | $26 | $17.41 | +54.9% | Sep 9, 2022 |
| UBS | John Lam | $22.5 | $13.16 | +34.0% | Apr 18, 2022 |
Track every rating change on BEKE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKE Holdings Inc., through its various subsidiaries, operates a comprehensive online and offline ecosystem facilitating real estate transactions and services across the People's Republic of China. Its business activities are categorized into five distinct segments: existing home sales, new home sales, home improvement and furnishing solutions, rental property services, and emerging and other offerings. At its core, the company manages the Beike platform, which integrates its digital and physical real estate services.…
Historical context
All BEKE earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the BEKE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-06T18:00:44.369864+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-06T18:00:44.366893+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-06. For educational purposes only; not investment advice.